StoneCo (STNE) Hits New 12-Month High on Strong Earnings

StoneCo Ltd (NASDAQ:STNE) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $43.91 and last traded at $41.49, with a volume of 395914 shares. The stock had previously closed at $34.60.

The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $139.04 million for the quarter, compared to analyst estimates of $116.87 million.

STNE has been the topic of a number of recent research reports. Zacks Investment Research downgraded StoneCo from a “hold” rating to a “sell” rating in a research report on Tuesday, January 22nd. Bank of America lifted their target price on StoneCo from $26.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $29.32.

A number of hedge funds have recently added to or reduced their stakes in STNE. Partner Investment Management L.P. acquired a new stake in StoneCo during the fourth quarter valued at approximately $42,000. Victory Capital Management Inc. acquired a new stake in StoneCo during the fourth quarter valued at approximately $46,000. Intellectus Partners LLC acquired a new stake in StoneCo during the fourth quarter valued at approximately $104,000. Zimmer Partners LP acquired a new stake in StoneCo during the fourth quarter valued at approximately $184,000. Finally, PNC Financial Services Group Inc. acquired a new stake in StoneCo during the fourth quarter valued at approximately $293,000. 32.94% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $9.59 billion and a price-to-earnings ratio of 114.55.

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StoneCo Company Profile (NASDAQ:STNE)

StoneCo Ltd. provides financial technology solutions that empower merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. It distributes its solutions, principally through proprietary Stone Hubs, which offer hyper-local sales and services; and technology and solutions to digital merchants through sales and technical personnel and software vendors.

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